The EOS Model® provides a useful foundation for businesses, but it falls short in addressing key aspects of creating an growth. By incorporating additional elements from the Gravitas 7 Attributes of Agile Growth® model, businesses can create a more comprehensive system that promotes growth while maintaining smooth operations. Focusing on Leadership, Strategy, Execution, Customer, Profit, Systems, and Talent, the 7 Attributes of Agile Growth® offer a more encompassing approach to achieving success.
Burnout! Houston We Have a Problem
For most of us in an office environment, it is now over five months since we vacated our office and began working from home. While some companies are seeking to have employees return, many are pushing that back until sometime in 2021. Also, in some areas with children returning to “virtual” school,” work from home will continue for a while.
While the data shows that overall productivity is up, what is becoming apparent is that few are taking vacations since COVID hit. According to a recent survey by the global online employment platform Monster, 59% of employees are taking less time off than usual, and 42% of those working from home are not planning to take any time off to decompress. SAP internal data shows employee vacation usage is 4% vs. 24% for the same period last year. For many employees, a combination of cancellation of events, summer camp closures, risks from travel, and minimal ability to travel internationally has led to a deferment of vacations.
However, fewer vacation increases the risk of employee burnout. The recent Monster survey revealed that 69% of employees are experiencing burnout symptoms while working from home, an increase of 20% since a similar study in early May. In addition to the burnout, financial anxiety is also causing mental health issues.
The World Health Organization has updated its definition of burnout from a stress syndrome to “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed.” Three symptoms characterize burnout:
- feelings of energy depletion or exhaustion;
- increased mental distance from one’s job or negative feelings toward one’s career; and
- reduced professional efficacy.
The damage employee burnout can do to an organization is very real. Individual employee burnout reduces productivity. Also, as employees begin to show symptoms of burnout, they transfer their stress (and workload) to others–and the burnout spreads.
With so few employees taking a vacation, issues of what to do are arising.
- Give employees more days off during the year, e.g., a Friday a month.
- Make employees take staycations?
The odd day off used to be a great break, but working from home, it is just the same as being at the office. So the rest and recharging that it used to offer are no longer there.
Encouraging employees to take staycations may sound good for their mental wellbeing. However, according to an HR Consultant, “The type of staycation where you don’t travel, but you stay home and forget all things work-related for a week feels different when you are working from home. [ The staycation ] is not by choice, and there is a lot of fear, trepidation, and isolation involved. If you don’t have enough space to have a completely separate work from home space, your staycation will feel like you just took a pillow and blanket into your office.”
Finally, some are taking vacations, but not turning off during that time. Since we can all work virtually, they are just continuing to work but at the vacation spot rather than at their home. This type of vacation defeats the purpose and results in the break being ineffective at reducing stress and burnout.
Another issue that is arising is what to do with all the unused vacation time. Many companies that have a use it or lose it policy may find that people lose it during these uncertain times, but that probably increases the risk of burnout. Another large set of companies are revisiting their employee policies to allow for unused vacations to roll over into 2021 so that when things allow for holidays, employees can use them. Right now though 2021 may not be long enough and rolled over vacation is a liability carried on the balance sheet.
Like many things during COVID, the situation is fluid, and flexibility is critical. First, though, find a way to reduce burnout and get your employees downtime. Then you can figure out what to do with vacations.
Recent Posts
EOS is just that, an Operating System
What has COVID done to Company Culture?
COVID has affected everyone. However, companies need to examine if they have lived their core values during COVID, how they are reinforcing them in a WFH environment, and especially with the onboarding of new hires.
Profit ≠ Cash Flow
Knowing how much cash you generate is essential for planning for growth. Too many companies don’t know and when they grow they find they are continually running out of cash. Understand your cash flow generation and how to improve it through improvements in your Cash Conversion Cycle and using the Power of One.
What Are Your Critical and Counter Critical Numbers?
The key to achieving long term goals is to define short term goals that lead you there. Focusing those short term goals around a key metric is essential. However, ensure that the metric will not lead other areas astray by having an appropriate counter critical metric act as a counter balance.
Rethinking ‘Family’ Culture in Business: Fostering Performance and Success
Explore the importance of company culture and the potential pitfalls of adopting a “Family” culture in organizations. Learn how to foster a high-performance culture while maintaining key family values and discover success factors for family businesses. Rethink the “Family” culture concept and create a thriving environment for your organization.
Do You Truly Know Your Core Customer?
Knowing the profit of your core customers is key to building a growth model. Many companies have identified core customers that are generating a sub-optimal profit and so they cannot realize the profits they seek. Identifying the correct core customer allows you to generate profits and often operate in “Blue Ocean.”
The Spectacular Rise and Fall of the European Super League
The European Super League (ESL) collapsed within 48 hours of its announcement due to hubris, a lack of value creation, and fan backlash. The founders’ arrogance led them to disregard European football’s deep-rooted traditions and culture. At the same time, the focus on wealthy club owners instead of merit undermined the essence of the competition. The fierce backlash from fans, who felt betrayed by their clubs, demonstrated the importance of prioritizing supporters’ interests in football.
When Should I Sell My Business?
Many business owners want to sell at the top of the market. However, market timing is tough. Is this the best strategy? Probably not.
Does Your Financial Model Drive Growth?
Working with many companies looking to grow, I am always surprised how many have not built a financial model that drives growth. I have mentioned before a financial model that drives growth? Here I am basing on Jim Collin's Profit/X, which he laid out in Good to...
COVID = Caught Inside
As we emerge from COVID, the current employment environment makes me think of a surfing concept: “Being Caught Inside When a Big Set Comes Through.” Basically, the phrase refers to when you paddle like crazy to escape the crash of one wave, only to find that the next wave in the set is even bigger—and you’re exhausted. 2020 was the first wave, leaving us tired and low. But looking forward, there are major challenges looming on the horizon as business picks up in 2021. You are already asking a lot of your employees, who are working flat out and dealing with stress until you are able to hire more. But everyone is looking for employees right now, and hiring and retention for your organization is growing more difficult.